Meteoric Resources Encounters Visible Gold in First Novo Astro Hole

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) was champing at the bit to inform the market of recent developments from recently commenced drilling at the company’s 100 per cent-owned Novo Astro gold project in Brazil.

Meteoric Resources reported on the two holes at the Novo Astro project (NADD001 and NADD002) that were drilled into the José target, at the western end of a five-kilometre long mineralised corridor defined by historic Garimpeiro pits and rock chip samples.

NADD001 targeted mineralisation and veining sampled at the eastern end of the José Pit and was drilled to a depth of 135 metres, intersecting three zones of moderate to strong sericite‐pyrite alteration at 52.5m to 54.1m, 70.2m to 80.1m and 118.7m to 120.1m in porphyritic granite.

The deepest zone contained fine visible gold and corresponds with the projection of the high‐grade mineralisation and veining within the pit.

NADD002 targeted another mineralised corridor below the José Pit and intersected a 56m zone at 134m to 190m of variably sheared and altered porphyritic granite.

Meteroic identified two zones of 7m and 8m thickness, which show intense sericite and pyrite alteration at 134.2m to 141.6m and 182.m to 190.0m respectively.

“Novo Astro is a giant Garimpeiro mining centre that was very active in the 1980s which continues to be the site of small‐scale mining even today,” Metreoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“Over the years a considerable body of work has been compiled at Novo Astro by previous explorers including pit sampling, geological mapping, soil geochemistry and selective rock chip sampling.

“However, until Meteoric, it had NEVER been drilled.

“We are delighted to be the team that drilled the first hole into Novo and we are excited that our first drill hole has intersected visible gold.

“The visible gold was only noted after cutting the core in preparation for assaying.

“The presence of gold in the core confirms mineralisation and veining continues at depth beneath historic workings.

“This is just the beginning of our exploration at Novo Astro and we have abundant targets to test and holes to drill.

“To advance the program, a second diamond drill rig was mobilised from Juruena to Novo Astro last week.

“As a geologist and explorer, the first holes into a new project is always one of the most exciting times in the life of an exploration program and I look forward to bringing assay results to the market as they become available from late November.”